Serena Williams’ step-mum has finally conceded defeat in her legal battle to keep the tennis legend’s childhood home, which will be sold to pay off her half a million dollars of debt.
Lakeisha Williams, 43, the estranged spouse of “King Richard” Williams, has appointed a specialist foreclosure company that will oversee the sale of the house in Palm Beach Gardens, Florida, and distribute the proceeds among her creditors, The Sun reports.
The move brings to a close the five-year court case where Lekeisha allegedly faked the signature of her ex-husband Richard, 80, to change the mortgage deed into her name after the four-bed property had been in the Williams family since 1995.
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She then took out a $255,000 loan with “hard lender” David Simon, which she blew on a doomed trucking business, and failed to keep up with a repayment plan, being accused by Simon of spending all her cash on “fast food and frivolities”.
Lakeisha tried to delay the foreclosure by declaring herself bankrupt three times, but two of those attempts have been tossed out, and the third also looks to be heading in the same direction.
The once-smart home has fallen into such a state of disrepair, with problems such as a heavily leaking roof, that Simon claims it’s uninsurable and pushed for it to be sold, as it’s the only asset that could repay his debt, which now stands at $513,213 including interest.
An auction was due to happen on September 27, but it’s unclear whether that occurred.
Lakeisha has now appointed Get Liquid Funding LLC and its lawyer Megan Widmeyer to handle the house sale and court case from now on.
Get Liquid Funding and Lakeisha have signed a “Recovery Agreement & Full Assignment of Surplus Funds,” which was filed with the Fifteenth Judicial Circuit in Palm Beach County.
On the financial firm’s website, it says that “we Help You and Your Family with Realistic Options When Going Through the Foreclosure Process,” adding that “if your house has already started going into the foreclosure process, we can help you get the surplus money after your house is sold.”
While realtor sites value the place at over $1.4 million, the actual figure is nearly half that amount due to its appalling condition.
The agreement says that a property appraiser’s “approximate assessed value” was $736,168.
But, it’s not all doom and gloom for Lakeisha, as there will be a surplus amount left over after repaying Simon, totalling $222,954.
According to the terms, Lakeisha will take 88 per cent and Get Liquid Funding 12 per cent for their services, which is $196,199 and $26,754, respectively.
It’s the latest – and maybe final – twist in the long-running soap opera between Richard and his estranged wife.
At one stage, it looked like the pair had momentarily reconciled when she halted their divorce and asked the courts to dismiss the case, with her lawyer stating that they “have engaged in an active marital life including having regular weekly sexual relations including but not limited to on January 9, 2022.”
— This story originally appeared on the-sun.com and has been republished with permission